Axoni raises $18M in Series A funding

Blockchain company Axoni completed an $18 million Series A financing round that was led by Wells Fargo and Euclid Opportunities, Icap’s fintech investment business that Axoni was already previously partnered with.

Axoni is one of a number of startups in the blockchain and distributed ledger space seeking to provide services to major financial firms.

“We are delighted to have strategic support from global leaders in financial services. The changes already underway based on distributed ledger technology will have a profoundly positive impact on the industry. Axoni is excited to help drive that progress alongside our investors and clients,” said Axoni CEO Greg Schvey.

In April, Axoni successfully completed 85 test cases around blockchain and smart contracts ability to manage the post-trade lifecycle events of standard North American single-name credit default swaps (CDSs). JPMorgan was one of the four banks that took part in the tests.